Uninsured RX

A sophisticated analysis of the gaps between institutional expectations was devised, tested, and then used to survey banks and insurers. The results were published in the 2003 ACLI study, Bridging the Cultural Divide Between Banks study and Life Insurers. ACLI and its strategic partners - C F Effron Company, Baker & Daniels, Navigant Consulting, Inc., and Unger Software - in 2004 undertook to expand upon the recommendations in the 2003 study with insurers, banks, and experts in the industry. ACLI and its strategic partners invite readers to view this paper as a catalyst for change - a compendium of next steps in bridging the cultural divide between banks and life insurers.

Trust is a critical component of building relationships with financial services customers. But Forrester's expert evaluations uncover many areas where firms do a poor job of building trust. To improve, firms must explicitly focus on trust-building principles whenever they design or evaluate interactions. How? By dealing with personal information appropriately, anticipating and answering questions, helping users correct errors, and treating interactions as part of a dialogue.

Estimating the risk of a terrorist attack is problematic because of limited historical data, divergent models, and differing expert judgments on the likelihood and impact of an attack. Therefore, professionals seeking to manage the risk are further challenged by uncertainty over whether to buy insurance, by how to conduct appropriate inspections and audits of the property, and by which regulations and standards may apply. In offering terrorism coverage, insurance companies must consider a range of factors including the potential for significant national disruption resulting from a "Mega" attack.